During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.
Do paycheck advance apps improve financial health? from American Banker – Paycheck advance apps have become a popular new tool for people living paycheck to paycheck but Penny Crosman wonders whether this is a good thing.
Helping Community Banks Turn On The Innovation Switch from PYMNTS.com – The Chief Innovation Officer of the ICBA talks about digitization for community banks and the constant need to be at the forefront of innovation.
China’s Lufax hits huge $39.4bn vaulation thanks to Primavera Capital-led Series C from AltAssets – While Chinese fintech has been struggling of late there are some bright spots. After postponing their IPO Lufax has just closed their Series C that values them at a whopping $39.4 billion.
Attention shifts back to Prospa IPO as the fintech hits $1 billion in loans from Business Insider – Australian online small business lender Prospa has just crossed A$1 billion in total loans issued and may be considering an IPO.
Why are fintechs getting a regulatory pass? from American Banker – We knew this was going to come back to bite us. The regulatory problems at Robinhood late last year has caused this editorial to paint all of fintech as happy to bypass regulatory oversight. But he does make a valid point on data security.
Green Dot targets social media influencers in banking-as-service push from American Banker – Interesting move from Green Dot. They are building a “Bank OS” where anyone down to tiny retailers can offer their own branded financial products and they are going to use social media influencers to get the word out.
If you’re self-employed or a ‘gig’ worker, getting a mortgage just got easier from The Washington Post – It’s about time. Fannie Mae and Freddie Mac have deployed “remarkable new technology” that automates the underwriting process for self-employed workers.
Why Goldman Sachs Is Interested in a Small Bike Shop in Mexico from The Wall Street Journal – Mexico is hot right now when it comes to fintech. Small business lender Credijusto is featured in the WSJ today touting investments from Goldman Sachs as well as QED Investors and John Mack.
Rivalry between two Silicon Valley lenders turns personal from American Banker – There is some real bad blood between these two innovative fintech lenders focusing on non-prime consumers.
Naspers Said to Eye Fintech Deals in $1 Billion India Push from Bloomberg – While many in the US don’t know this company, Naspers is one of the largest investors in fintech globally, particularly in the developing world. They are pledging to invest $1 billion in India alone this year.
Betterment Is Coming For The Checking Account from Forbes – The days of the no-interest checking account may be numbered. Interesting quote from the CEO of Betterment, “Our mission is to eliminate the checking account, which is an antiquated idea”.
Property finance hub Lendinvest plots £500m London float from Sky News – Looks like the next UK fintech to take the IPO plunge will be LendInvest. They are considering a £500m listing later this year.
Banks have even less room for error with bad behavior from American Banker – Thought provoking op-ed in American Banker by the former head of the OCC Eugene Ludwig. Rooting out bad behavior by employees, known as conduct risk, is becoming a big challenge for banks and will be for fintechs too.
From the Lend Academy Forum
The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.
Available Cash -$1.49 – LendingClub investors discuss the oddities that sometimes occur in their account.
How to find old data on charged off loans now receiving recoveries? – An investor is looking to get further information on charged off loans.
GroundFloor equity offering – Forum members share their thoughts on GroundFloor’s new equity offering.
Leave a Reply